Oceaneering International Inc Stock Forecast
Evaluation of Oceaneering International Inc stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Oceaneering International Inc stock price gained 1.35% on the last trading day (Thursday, 2nd May 2024), rising from $22.22 to $22.52. During the last trading day the stock fluctuated 2.30% from a day low at $22.20 to a day high of $22.71. The price has risen in 6 of the last 10 days and is up by 1.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 64 thousand more shares were traded than the day before. In total, 767 thousand shares were bought and sold for approximately $17.27 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.28 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.63% during the next 3 months and, with a 90% probability hold a price between $25.99 and $31.29 at the end of this 3-month period.
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OII Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oceaneering International Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $23.50 and $23.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -11.72%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Oceaneering International Inc stock
Oceaneering International Inc finds support from accumulated volume at $21.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.510 between high and low, or 2.30%. For the last week, the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OII) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Oceaneering International Inc to open at $22.48, and during the day (based on 14 day Average True Range), to move between $21.63 and $23.41, which gives a possible trading interval of +/-$0.89 (+/-3.97%) up or down from last closing price. If Oceaneering International Inc takes out the full calculated possible swing range there will be an estimated 7.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.53 (0.04%) than the support at $21.97 (2.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Oceaneering International Inc stock A Buy?
The Oceaneering International Inc stock holds several negative signals and despite the positive trend, we believe Oceaneering International Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.151 Strong Sell Candidate Downgraded
Predicted Opening Price for Oceaneering International Inc of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$22.48 ( 0.192%) | $22.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OII
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.99 | 2.07 % | |
R2 | 22.79 | 1.21 % | ||
R1 | 22.67 | 0.673 % | ||
Current price: | 22.52 | |||
Support | S1 | 22.28 | -1.06 % | |
S2 | 22.16 | -1.59 % | ||
S3 | 21.97 | -2.46 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.55 | 9.01 % | |
R2 | 24.42 | 8.44 % | ||
R1 | 22.53 | 0.0444 % | ||
Current price | 22.52 | |||
Support | S1 | 21.97 | -2.44% | |
S2 | 21.79 | -3.24% | ||
S3 | 19.76 | -12.26% |
OII Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 26, 2017 | Aug 23, 2017 | Sep 15, 2017 | $0.150 | 0.581% |
2 | Apr 26, 2017 | May 24, 2017 | Jun 16, 2017 | $0.150 | 0.601% |
3 | Feb 08, 2017 | Feb 22, 2017 | Mar 17, 2017 | $0.150 | 0.578% |
4 | Oct 28, 2016 | Nov 22, 2016 | Dec 16, 2016 | $0.150 | 0.481% |
5 | Jul 21, 2016 | Aug 24, 2016 | Sep 16, 2016 | $0.270 | 1.07% |
FAQ
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